1050 27th Street St NE · Cedar Rapids, IA 52402

$125,000

3 bd · 1.0 ba · 1,392 sqft · SingleFamily public records · 5 Days on market

Built 1947 9,148 sqft lot $90/sqft · 33% below area Est $188k · 33% under

---

Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +18.6/30.0
• ARV discount +15.0/15.0
• 1% rule +5.9/10.0
• DSCR +5.8/10.0
• Rent growth +5.0/5.0
• Schools +4.7/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Accepted offer, subject to financing. Opportunity knocks with this charming 1.5-story fixer upper! Featuring 2 bedrooms and 1 bathroom, this home is full of potential and ready for your personal touch. A great opportunity for investors, first-time buyers, or anyone looking to build equity with a little TLC. Conveniently located close to downtown and nearby schools, this property offers both location and possibility. Don’t miss the chance to make it your own!

Key facts

• Close to downtown
• Nearby schools
• 9,148 sq ft lot

Tags

• CLOSE TO DOWNTOWN
• NEARBY SCHOOLS

Property features AI

Finance

• HOA & community: Association fee paid annually

Exterior

• Parking: Attached garage with space for 1 vehicle
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; One story
• Construction: Vinyl siding with frame construction
• Exterior features: Deck; Street lights in the community

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Electric, forced air and natural gas heating
• Interior features: Full unfinished basement; No fireplace; No appliances included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 7.4% vs local median 3.5% in Cedar Rapids — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 78/100 on livability (#134 in IA, #2,474 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime C-, commute F.
• Cedar Rapids Community School District (urban): math 50% / reading 59% proficiency, ranked #265 of 289 in IA (top 92%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Franklin Middle School (math 49% / reading 59%, grade B-, #206 of 246 statewide, top 84%, 537 students, 56% FRL); George Washington High School (math 44% / reading 62%, grade C-, #296 of 336 statewide, top 88%, 1,291 students, 49% FRL).
• Market conditions: Rents rising fast (+11.0%/yr); 286 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,023 units permitted in Linn County in 2024 (456 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Linn County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 7.45%
• Cash-on-cash: 4.12%
• DSCR: 1.18
• GRM: 7.6

CMA / ARV

• ARV (median comp): $187,820
• List price: $125,000
• Delta: -33.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1621 Oakland Road Rd NE	0.54mi	3/1.5	1,372 (-1%)	0mo	$228,500	$167	70
1024 Staub Ct NE	0.12mi	3/2.0	1,578 (+13%)	1mo	$190,000	$120	67
642 Prairie Dr NE	0.37mi	4/2.0 (+1)	1,469 (+6%)	1mo	$210,000	$143	64
2522 A Ave NE	0.69mi	3/1.5	1,353 (-3%)	1mo	$183,500	$136	60
1205 33rd St NE	0.39mi	3/1.0	1,186 (-15%)	1mo	$21,000	$18	56
1614 J Ave NE	0.53mi	2/1.0 (-1)	1,205 (-13%)	0mo	$170,000	$141	47
336 21st St NE	0.67mi	4/1.0 (+1)	1,524 (+10%)	1mo	$191,000	$125	47
2906 Russell Dr NE	0.57mi	4/1.5 (+1)	1,568 (+13%)	0mo	$205,000	$131	45
311 22nd St St NE	0.71mi	4/2.0 (+1)	1,510 (+8%)	1mo	$205,000	$136	43
419 21st St NE	0.62mi	4/2.0 (+1)	1,547 (+11%)	1mo	$205,000	$133	43
231 32nd St St NE	0.66mi	4/1.5 (+1)	1,550 (+11%)	1mo	$195,000	$126	42
203 NE 27th St	0.69mi	2/1.0 (-1)	1,200 (-14%)	2mo	$162,800	$136	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -3.8%
• Equity multiple: 0.85×
• Total profit: $-5,312
• Equity at exit: $18,638

10-year hold

• IRR: 11.2%
• Equity multiple: 2.10×
• Total profit: $38,368
• Equity at exit: $10,808

Cash invested: $35,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Iowa: 83 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; mostly landlord-friendly statewide.

Methodology + full state rankings →

ZIP-level market 52402

• Rents YoY: 11.0%
• Active inventory: 286
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,364 high
• Mortgage (P&I): −$656
• Tax from tax record: −$250 /mo · $3,002/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $120

Break-even live

Break-even rent $1,212

Max offer price $125,000

Occupancy floor 86%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1127 34th St NE Cedar Rapids, IA	3.0	2.0	1152	$1,385	$1.20	43d	1	0.47mi
511 23rd St NE Cedar Rapids, IA	2.0	1.0	888	$1,500	$1.69	43d	1	0.55mi
306 29th Street Dr SE Cedar Rapids, IA	2.0	1.0	1100	$850	$0.77	20d	1	0.95mi
1220 Sierra Dr NE Cedar Rapids, IA	1.0–2.0	1.0–2.0	985	$1,000	$1.02	43d	1	1.00mi
4025 Sherman St NE Cedar Rapids, IA	1.0–2.0	1.0–1.5	742	$1,083	$1.46	13d	1	1.11mi

Listing history 8 events

1. 2026-05-18
   status Pending 460-char remark

   Show marketing remark (468 chars)

   Accepted offer, subject to financing. Opportunity knocks with this charming 1.5-story fixer upper! Featuring 2 bedrooms and 1 bathroom, this home is full of potential and ready for your personal touch. A great opportunity for investors, first-time buyers, or anyone looking to build equity with a little TLC. Conveniently located close to downtown and nearby schools, this property offers both location and possibility. Don’t miss the chance to make it your own!

2. 2026-05-18
   status Pending 468-char remark

   Show marketing remark (468 chars)

   Accepted offer, subject to financing. Opportunity knocks with this charming 1.5-story fixer upper! Featuring 2 bedrooms and 1 bathroom, this home is full of potential and ready for your personal touch. A great opportunity for investors, first-time buyers, or anyone looking to build equity with a little TLC. Conveniently located close to downtown and nearby schools, this property offers both location and possibility. Don’t miss the chance to make it your own!

3. 2026-05-13
   listed $125,000 Active 468-char remark

   Show marketing remark (468 chars)

   Accepted offer, subject to financing. Opportunity knocks with this charming 1.5-story fixer upper! Featuring 2 bedrooms and 1 bathroom, this home is full of potential and ready for your personal touch. A great opportunity for investors, first-time buyers, or anyone looking to build equity with a little TLC. Conveniently located close to downtown and nearby schools, this property offers both location and possibility. Don’t miss the chance to make it your own!

4. 2026-05-13
   listed $125,000 Active 460-char remark

   Show marketing remark (468 chars)

   Accepted offer, subject to financing. Opportunity knocks with this charming 1.5-story fixer upper! Featuring 2 bedrooms and 1 bathroom, this home is full of potential and ready for your personal touch. A great opportunity for investors, first-time buyers, or anyone looking to build equity with a little TLC. Conveniently located close to downtown and nearby schools, this property offers both location and possibility. Don’t miss the chance to make it your own!

5. 2013-05-31
   soldstatus $124,000
6. 2012-07-16
   soldstatus $124,000
7. 2012-07-12
   soldstatus $119,000
8. 2004-07-23
   soldstatus $92,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IA · Partial reset (capped growth)

• Current annual tax: $3,002 · $250/mo
• Projected year-2 tax: $3,002 · $250/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,374
• − Mortgage interest: −$7,002
• − Property taxes: −$3,002
• − Insurance: −$625
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$3,636
• Taxable loss: −$511
• Est. tax savings @ 24.0%: +$123
• After-tax cash flow: $1,565/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Cedar Rapids Community School District
• NCES district ID: 1906540
• Math proficiency: 50% ▼ -12.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $53,568
• Composite: 46.82/100
• National rank: #2378
• State rank: #265 of 289 in IA

Livability — Cedar Rapids

• Score: 78/100
• State rank: #134
• US rank: #2474

Category grades

Amenities B- Commute F Cost of living A+ Crime C- Employment B- Housing A+ Health & safety A+ User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Rapids, IA
• County: Linn County · 179,860 people
• City population: 137,154
• Metro: Cedar Rapids, IA
• Population (ZIP): 42,938
• Household income: $73,439
• Rent vs Own: 32.7% rent · 67.3% own
• Severe rent burden: 971.0

Population outlook (Linn County) Hauer SSP2

• Today (2025): 239,589 people
• By 2030: 248,587 · +3.8%
• By 2040: 264,817 · +10.5%
• By 2050: 278,685 · +16.3%
• By 2075: 311,754 · +30.1%
• By 2100: 336,773 · +40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 7% Black 6% Asian 6% Hispanic / Latino 4%
• Common ancestry: Portuguese 4% Lithuanian 2% Iranian 2%
• Foreign-born: 8% · Canada, Philippines, China
• Languages at home: 89% English-only · Spanish 3% Other Indo-European 3% Other Asian/Pacific 2%

Political lean MEDSL · Linn

• 2024 margin: Lean D (+9.9) · D 54.2% · R 44.3% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 21.5pp · 2024: 9.9pp
• All cycles: 2024: D+9.9 2020: D+13.7 2016: D+9.0 2012: D+17.6 2008: D+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -133.31%
• Current HPI: 201.7061
• Rent YoY: ▲ 10.97%
• Metro: Cedar Rapids, IA
• State GDP YoY: ▲ 2.48%
• F500 in state: 4

Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Price history

+35.9% since first listed

8 events — show timeline

• 2026-05-18 Pending — ICAARMLS
• 2026-05-18 Pending — CRAAR, CDRMLS
• 2026-05-13 Listed $125,000 CRAAR, CDRMLS
• 2026-05-13 Listed $125,000 ICAARMLS
• 2013-05-31 Sold (Public Records) $124,000 Public Records
• 2012-07-16 Sold (Public Records) $124,000 Public Records
• 2012-07-12 Sold (Public Records) $119,000 Public Records
• 2004-07-23 Sold (Public Records) $92,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $3,002 · +6.0% YoY. Source: county tax records.